Brazil · Delayed Price · Currency is BRL Lavvi Empreendimentos Imobiliários Earnings Call Transcripts
Fiscal Year 2026
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Q3 revenue rose 28% YoY, but net income fell 13% and sales slowed amid high rates and cautious buyers. Management emphasized cash preservation, selective launches and improving margin expectations.
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Record sales driven by landmark launches and strong Minha Casa, Minha Vida performance, with net revenue up 33% sequentially and backlog at BRL 3.1 billion. Despite macroeconomic challenges and increased cancellations, disciplined capital allocation and a robust land bank support continued growth.
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Q1 2026 saw no new launches but strong sales and inventory reduction, with net revenue of BRL 373 million and net income of BRL 70 million. Margins were temporarily pressured but are expected to recover as major launches proceed, supported by a robust land bank and resilient ROE.
Fiscal Year 2025
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Q4 2025 saw record annual revenue and net income, driven by strong launches and sales, despite an 8% quarterly revenue decline and cash burn from land investments. The company is optimistic about new projects but remains cautious due to high interest rates, labor shortages, and regulatory risks.
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Record revenue and net income were achieved, with strong margins and robust sales in both high-end and Minha Casa, Minha Vida segments. Cash generation supported a major dividend payout and a BRL 400 million capital raise, positioning for further land acquisitions.
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Q2 2025 saw robust revenue and net income growth, strong sales from major launches, and a healthy land bank, despite labor shortages and a challenging macro environment. Dividends were approved, and margins are expected to remain strong.
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Q1 2025 saw strong net revenue growth of 17% year-over-year and a net margin of 26%, with robust inventory sales and high margins in the Novvo segment. Cash burn was mainly for land acquisition, and BRL 20.6 million in dividends was approved for May.
Fiscal Year 2024
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Record launches and sales drove revenue up 72% year-over-year, with net income at BRL 343 million and a 22.1% margin. High interest rates and selective lending pose challenges, but a strong backlog and robust cash position support continued growth.
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Record launches and sales drove net revenue up 92% year-over-year, with gross margin and net income at historic highs. Dividend payouts exceeded the minimum, and the launch pipeline remains robust, supported by strong demand for large, well-located projects.
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Record net revenue and sales growth marked the best half-year ever, with strong margins and robust cash generation. Major launches and high SOS rates drive optimism, while margin volatility and regulatory changes are being closely monitored.